Bermuda Dollar - BMD
Just when you believe you have come across all the dollar currencies that exist in the world, here comes another one! Yes, Bermuda also has its own version of the dollar and that’s what we will be finding out more about here.
What coins and notes are available for this currency?
Firstly as you might expect, the dollar is split into 100 cents, as is the case with other dollar-based currencies. If you are familiar with the US dollar you might find the denominations of the Bermudian dollar rather familiar too. There are lots of coins available, although two of them are not commonly used. These are the 50 cent coin and the $5 coin. In regular use however you will find the 1, 5, 10 and 25 cent coins, and there is also a $1 coin.
There are six banknotes being used to pay for things in Bermuda. These are the $2, $5, $10, $20, $50 and $100 banknotes.
From past to present – the history of the Bermudian dollar
Bermuda has had a selection of currencies over the years. These began centuries ago with the use of Spanish dollars. These were more commonly called pieces of eight. Bermuda is a British colony and at one point the country used the pound sterling as its official currency. This ended in 1970 when it was decided that Bermuda should have its own currency. This was around the time of decimalisation, which brought the Bermudian dollar into being. Shortly after this time, the Bermudian dollar was pegged to the US version.
How to get hold of the Bermudian dollar
Bermuda has a thriving tourist industry so it probably won’t surprise you to learn that getting hold of the currency isn’t a major problem. Actually you may not worry too much about getting hold of the Bermudian dollar prior to arriving there anyway. You see, the US dollar is also used in Bermuda, and that means the easiest thing to do is to search for a good deal on the US dollar for your holiday currency. Plenty of American tourists visit Bermuda and this state of affairs is rather convenient.
You might also be pleased to know that traveller’s cheques are widely accepted here. You should take them in US dollars for convenience. Remember to keep a note of the serial numbers and store it separately from the cheques themselves, just in case you should lose them. While you can exchange other currencies when you arrive, it is usually much easier to stick with US dollars since they are easier to exchange.
You can also get hold of local Bermudian dollars via the island’s network of cash machines. You won’t find them on every corner but there are quite a few of them around and they do generally dispense money around the clock. You can pay with a credit card but it should never be assumed you can do this everywhere you go. Always check prior to using any services or ordering a meal, for example, to make sure you can pay in this way.
How to find out the latest exchange rate between your home currency and the Bermudian dollar
If you have ever used a currency converter online before you’ll know how easy this will be. All you have to do is locate the Bermudian dollar – easy enough if you stick to the ISO code used for this currency, which is BMD. Once you have found it you can decide whether to compare one dollar to your own currency or another specific amount. For example if you want to take £500 in spending money with you, you could enter this first under the British pound and then convert it into Bermudian dollars by choosing that option last. You may also have a fair guess at the exchange rate because the Bermudian dollar is pegged to the US dollar on a 1:1 ratio.
There is no embassy for Bermuda in the UK. However you might find it useful to go to the UK government website - https://www.gov.uk/government/world/bermuda - to find out a little more about the country.
Travelling safely with the Bermudian dollar
Bermuda is a popular holiday destination and for good reason. Crime does occur here although the vast majority of holidaymakers have an enjoyable time and do not fall victim to it. However with that said it is important to recognise there is a lot you can do to ensure you are not targeted in any way.
For example petty crime is perhaps the most commonly-occurring crime that you may fall victim to if you are not careful. The good news is the standard advice will apply here just as it does anywhere else in the world. Make sure you do not carry around large sums of money. The cash you do carry should ideally be split into several pockets or purses so you can protect some of it if you are unlucky enough to have a pocket picked.
Another option is to reduce the amount of jewellery and other valuables you have with you. Crime can be opportunistic so by reducing the opportunity you present, you can stay much safer.
Where to spend your dollars in Bermuda – and what to spend them on
So now we know all that, let’s see what Bermuda itself has to offer. It sits in the North Atlantic Ocean, far off the eastern coastline of the US, hence why it is a popular destination for many Americans. It is a long strangely-shaped island running from the north-east down to the south-west. While Bermuda is commonly referred to as an island, some parts of it are islands in themselves. For example the northern reaches of the country include St George’s Island and St David’s Island.
The capital of Bermuda is Hamilton. This is a city that can be found in the middle of the country. It is a hotspot for tourists and offers lots of parks for you to explore. Indeed the city is quite green, something that always provides respite when all you want to do is chill out.
There is plenty else to keep you amused when visiting Bermuda as well. For instance you can visit the Bermuda Aquarium, Museum and Zoo – a true three-in-one attraction if ever there was one! You can meet all kinds of birds and fish here, as well as finding out more about local plants and even corals.
As you might imagine, Bermuda is a go-to destination for anyone who wants to enjoy a great beach holiday. The nature of the layout of the island means there are plenty of beaches to choose from too, although one of the best has to be Horseshoe Bay Beach. This regularly sits among the top ten of beaches in the entire world, so it is well worth a closer look if you do go there. It has pretty good facilities and enjoys a large expanse of sand as well as waters to dip into whenever sunbathing becomes too much!
Back on dry land you should definitely take a closer look at the Bermuda Botanical Gardens. These have been around for over a century and depending on which day you go you can learn more about them via a free tour walking around the garden itself. They are exceptionally well-kept, with plants and flowers blooming everywhere you go.
Another option is to see Spanish Point, a headland which provides you with a number of activities to enjoy. For example you can wander in the park of the same name in that area, and look out into Stovell Bay. There is a harbour tucked out of the way of the sea here too, so there is lots to look at and appreciate as you explore the area.
Bermuda has so much to offer that it is impossible to mention it all in this one article. However needless to say it matters little whether you are looking for the perfect beach holiday or you want a trip that offers rather more than this. Bermuda caters for all kinds of people looking for all kinds of different things. Wherever you choose to base your holiday in Bermuda, there are many other areas you should make the effort to see as well.
Indeed it is worthwhile to plan your holiday in advance so you can determine where you will stay and for how long. Bermuda is a pricey place to visit so you want to be sure you get it right. Planning ahead of time means you can find somewhere to stay that is affordable as well as being well-placed for the destinations you want to visit.
You can be sure you’ll spend a few Bermudian dollars when you get there, so it might be good to start saving up now! This may be a British colony but you might be surprised at how expensive some things are when compared to the UK. However it shouldn’t stop you from having a great time there.